U.S. Becomes an Observer to the Pacific Alliance

Wednesday, July 24, 2013

Sandler, Travis & Rosenberg Trade Report

The United States has just been granted observer status in the Pacific Alliance, the trade bloc consisting of founding members Colombia, Mexico, Peru and Chile and newly admitted Costa Rica. The U.S. intends to use observer status to recognize Alliance achievements and advance the values shared with member states.

The Pacific Alliance was formally established in 2012 to deepen regional trade and economic cooperation, with the goal of creating a trading zone in which services, people and capital can move freely. The bloc has already accomplished much, which explains why many countries have expressed an interest in the Alliance. The U.S. joins other observer nations Guatemala, Panama, Uruguay, Paraguay, Spain, Japan, Australia, New Zealand and Canada. U.S. participation will be led by the Department of State and the Office of the United States Trade Representative.